PYMNTS

JANUARY 30, 2019

Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink eCommerce and trading platforms with the SWIFT gpi payment service.”. The proof of concept is designed to “bring the benefits of gpi payments’ speed, ubiquity and certainty to distributed ledger technology (DLT)-enabled trade.”

SWIFT 60

SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 60

Fintech News

OCTOBER 15, 2024

In today’s fast-paced technological landscape, sticking with legacy systems can leave financial institutions lagging behind. With the rapid evolution of payment methods and regulations, banks must stay ahead of the curve or risk being left out of the game. There are typically two main approaches.

ISO 20022 113

ISO 20022 ISOs Payments Federal Reserve 113

PYMNTS

APRIL 9, 2019

Payments messaging company SWIFT is gearing up to close its Trade Services Utility (TSU), a workflow engine aimed at facilitating value-added supply chain services. Reports in Global Trade Review (GTR) on Monday (April 8) said SWIFT will switch off its TSU in December 2020.

SWIFT 73

SWIFT ISO 20022 Payment Message Liquidity Management 73

PYMNTS

MARCH 21, 2017

For a few years the corporate banking space has been discussing the potential for ISO 20022 to streamline payments, with industry forces like SWIFT and SEPA promoting its adoption. But, according to Nordea, obstacles remain for ISO 20022 to take off as a payments messaging standard and provide corporates the efficiency they need.

ISO 20022 77

ISO 20022 ISOs B2B Message Standards 77

PYMNTS

APRIL 9, 2020

Reports have said the move by the payments messaging company positions the firm take on payments giants Visa and Mastercard. ” Reports noted the importance of SWIFT expanding into the SMB payments arena beyond high-value complex corporate transactions. Sila Raises Funding to Nix ACH.

Payment APIs and Integration 83

Payment APIs and Integration Central Bank SWIFT FinTech 83

Fintech News

DECEMBER 10, 2023

Tackling this challenge requires a multifaceted approach focusing on data accuracy, technology integration, fraud prevention, and balancing customer experience with regulatory compliance. Understanding the complexity of payments At first glance, payment processes may seem straightforward but can be deceptively intricate. .”

Addressing 120

Addressing Fraud Prevention Financial Inclusion Payments 120

PYMNTS

JULY 22, 2020

As real-time payment infrastructure grows more sophisticated, technology presents an opportunity for organizations to mitigate the adoption hurdle. According to Ramón Villarreal , global architect, financial services at Red Hat , the value in real-time payments can significantly outweigh any challenges faced in the adoption process.

Real Time Payments 90

Real Time Payments FedNow Payments Faster Payments 90

PYMNTS

JANUARY 30, 2019

Payments messaging company SWIFT said it will test gpi Link, “a gateway to interlink ecommerce and trading platforms with the SWIFT gpi payment service.”. The proof of concept is designed to “bring the benefits of gpi payments’ speed, ubiquity and certainty to distributed ledger technology (DLT)-enabled trade.”

SWIFT 46

SWIFT Distributed Ledger Technology (DLT) Payment APIs and Integration Message Standards 46

PYMNTS

JANUARY 13, 2017

Financial messaging firm SWIFT made its first public embrace of blockchain technology last year with a whitepaper exploring the use of the technology for smart contracts. 12) said SWIFT will launch a proof-of-concept test to explore the use of blockchain technology for cross-border payments and settlements by banks.

SWIFT 41

SWIFT Cross-Border Payments Blockchain Cross-Border 41

PYMNTS

AUGUST 28, 2019

Paper checks are often pointed to as an example of how difficult it can be for corporates to change their payment behaviors. With newer digital, automated payment technologies emerging in the B2B space, businesses continue to stick to what’s familiar: paper. Speaking The Same (Payments) Language.

ISO 20022 52

ISO 20022 Real Time Payments B2B ISOs 52

PYMNTS

AUGUST 1, 2019

In the latest Smarter Payments Tracker , PYMNTS takes a deep dive into the challenge of interoperability in achieving better cross-border payments services and experiences. But as the Tracker explores, there are several initiatives in the works to tackle those challenges — including in the corporate sphere.

Interoperability 61

Interoperability ISO 20022 Cross-Border Correspondent Bank 61

PYMNTS

JULY 9, 2020

In a PYMNTS interview , Tim Coats, Oxbury co-founder, chief customer and regulatory officer, said Faster Payments will become a key rail for the farming and agricultural space to accelerate cash flow through its supply chain. SWIFT Certifies Fiorano ISO 20022.

ISO 20022 77

ISO 20022 Blockchain Cross-Border Cross-Border Payments 77

PYMNTS

FEBRUARY 18, 2019

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. which the institution plans to deploy in its corporate payments operation. ” That doesn’t describe JPMorgan’s technology, the publication said (nor is the JPM Coin a stablecoin, it added).

B2B 70

B2B Cryptocurrency Payments Blockchain 70

PYMNTS

AUGUST 16, 2019

Last month, SWIFT released its first set of guidelines for financial institutions using the ISO 20022 payments messaging standard to complete cross-border transactions. Just 8 percent of corporations are using alternative providers to make cross-border payments, and 55 percent have no plans to do so.

Cross-Border Payments 81

Cross-Border Payments Cross-Border ISO 20022 ISOs 81

The Fintech Times

OCTOBER 19, 2024

Broadridge Financial Solutions , the investor communications and technology-driven solution provider, has launched a new managed service for connectivity, message processing and workflow management for instant payments.

Instant Payments 52

Instant Payments SWIFT Payer Request for Payment 52

PYMNTS

OCTOBER 3, 2019

BitPay customers are leveraging the promise of blockchain payment technology — and, with XRP, can offer a payment option that is fast, cost-effective and scalable,” said Sean Rolland, director of product at BitPay, in the announcement.

API 76

API Finance SWIFT Blockchain 76

PYMNTS

SEPTEMBER 11, 2019

A majority (61 percent) regarded the flexibility and standardized nature of global data formats to be a benefit of real-time payments, which speaks to the importance of real-time payments for cross-border. Businesses that use real-time payments are more competitive, as the technology is becoming the standard for global commerce.

Cross-Border Payments 76

Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

PYMNTS

OCTOBER 6, 2017

The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions. The platform was built on ISO payment messaging standards, which, according to Fides CEO Andreas Lutz, are “very high and present a lot of challenges for treasury teams.”. “By

Treasury 57

Treasury Treasury Management Message Standards ISOs 57

PYMNTS

DECEMBER 13, 2018

Separately, SWIFT said this past week that it has launched a pilot program that focuses on an integrated gpi payments service that quickly identifies and eliminates payment message errors. The broader initiative will use AI (among other technologies) to boost predictability of international payments.

Payment APIs and Integration 53

Payment APIs and Integration SWIFT Interbank Settlement Faster Payments 53

PYMNTS

NOVEMBER 18, 2020

That is par for the course for any new payment technology, he said, and it's up to financial services providers to expand education and awareness of the technology. This has forced a behavior change and adoption of electronic payment methods that might have remained untouched by business users under normal circumstances.

RTP 82

RTP Use Case Real Time Payments ISO 20022 82

PYMNTS

JUNE 24, 2019

Payments messaging firm SWIFT will allow blockchain companies to connect into its global payments innovation (gpi) platform, SWIFT said in its latest report on the future of payments.

SWIFT 43

SWIFT Blockchain Cross-Border Payments Cross-Border 43

PYMNTS

FEBRUARY 19, 2019

” Large enterprises are locked into their payment habits and complex, legacy ERP systems, so initiating any change in technology or behavior is no easy feat. Yet, another key factor behind faster payments’ inability to accelerate supplier payments, both across Europe and in the U.S., and Europe have imposed.

Faster Payments 75

Faster Payments Accounts Remittance Data Same Day ACH 75

The Fintech Times

AUGUST 8, 2024

In addition to working with the New Payments Platform (NPP) participating institutions that will be involved in implementing this solution, we have solicited input from over 50 community groups in an effort to ensure we have a broad perspective of views.

Payee 59

Payee SWIFT Scams Payment APIs and Integration 59

PYMNTS

JANUARY 17, 2017

s initiatives towards faster and real-time payments, analysts noted key requirements to join the Faster Payments scheme in particular; among one of the highest costs of joining, the report concluded, is building the technology to support real-time posting of payments. s broader faster payments efforts.

Faster Payments 43

Faster Payments ISO 8583 ISO 20022 Message Standards 43

PYMNTS

OCTOBER 10, 2016

Though the set of global business standards have been around for some time, ISO 20022 still has the ability to enhance how payment messages are sent and received. Throckmorton explained that ISO 20022 is not new to NACHA; there’s been an increased interest from businesses to have this flexible option of using ISO formatted messages.

Same Day ACH 76

Same Day ACH ACH ISO 20022 NACHA 76

PYMNTS

NOVEMBER 13, 2020

We needed to position ourselves to respond to that emerging trend from a technology perspective.". API integrations can make it easier than ever for third-party FinTech solutions to enhance their own payment capabilities.

Real Time Payments 75

Real Time Payments Electronic Funds Transfer (EFT) ISO 20022 Payment APIs and Integration 75

The Fintech Times

FEBRUARY 21, 2024

Payments are arguably the face of fintech. When you think about financial technology, it is easy to think about solutions which are making payments faster, easier and more accessible. “Public-private partnerships will also rise among regulators and payment players such as banks and technology providers.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

The Fintech Times

MARCH 27, 2024

Mike Walters , CEO of Form3 Mike Walters , CEO of Form3, commented: “The best way to tackle the rise of APP fraud is the use of collaborative intelligence and cutting-edge technologies that allow the real-time identification of scams within the payment message.

Fraud Prevention 59

Fraud Prevention Faster Payments Financial Crimes Crime 59

PYMNTS

FEBRUARY 6, 2020

Automating the flow of payment-related data will support back-office process efficiencies, and address fraud concerns. The solution will deploy blockchain, standardized APIs from Afinis and payments messaging standard ISO 20022. The organization noted that the platform will aim to go live for early adopters this May.

Payments Data 73

Payments Data Payment APIs and Integration Credit Union NACHA 73

Fintech Finance

APRIL 16, 2024

Transaction Network Services (TNS) , a global leader in payments infrastructure and managed connectivity services, has launched Complete Commerce – a full-stack, modern and secure payment and network capability.

PCI DSS 52

PCI DSS Payment Solutions Payments Payment Message 52

Fintech Finance

APRIL 17, 2024

The Real-Time Rail is a complex, large-scale, multi-year infrastructure program that includes two key technical components: the build of the Real-Time Rail exchange component provided by Interac, which was completed in June 2023 and will allow for the exchange of payment messages in real-time.

ISO 20022 52

ISO 20022 Real Time Payments Participant Payment Message 52

PYMNTS

MARCH 9, 2018

In an announcement on Thursday (March 8), SWIFT said its DLT (distributed ledger technology) PoC for Nostro reconciliation went “extremely well,” according to SWIFT Head of Research and Development Damien Vanderveken in a statement. While SWIFT said the PoC was successful, it also highlighted some challenges to adoption.

SWIFT 43

SWIFT ISO 20022 Blockchain Liquidity Management 43

PYMNTS

MARCH 28, 2018

The payments messaging firm and the enterprise software conglomerate revealed they are working together to streamline corporate treasury’s integration into the SWIFT network via financial institutions. Dubbed SAP Multi-Bank Connectivity, the solution was built on SAP Cloud Platform technology.

SWIFT 49

SWIFT Treasury Payment Message Facilitators 49

PYMNTS

NOVEMBER 3, 2020

FINTAINIUM is combining its Account Receivables and Payables Management Platform with Everlink's eHUB Digital Payments Platform to support real-time B2B and B2C payments that adhere to ISO 20022 payments messaging standards. In the latest show of support for distributed ledger technology, J.P.

Use Case 56

Use Case B2B Distributed Ledger Technology (DLT) ISO 20022 56

PYMNTS

MARCH 1, 2019

However, all the messaging companies will likely face the same regulatory and technology issues that bitcoin has faced due to a lack of central authority over cryptos, as well as the designs of the computer networks that make it difficult to complete a significant number of transactions.

Digital Currency 85

Digital Currency P2P Cryptocurrency Encryption 85

The Fintech Times

APRIL 18, 2024

The RTR is a complex, large-scale, multi-year infrastructure program that includes two key technical components: the build of the RTR exchange component provided by Interac , which was completed in June 2023 and will allow for the exchange of payment messages in real-time. A date of mid-2023 was set for the launch.

Payments 59

Payments Real Time Payments Settlement Economy 59

Fintech Finance

MAY 13, 2024

To comply with ISO 20022 compliance standards, financial institutions must complete their own testing before the end of 2024, underscoring the importance of selecting a payment processor with the needed technology.

ISO 20022 52

ISO 20022 ISOs FedWire Fed 52